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Bank stocks are expected to lead growth in the stock exchanges this week as investors could be inspired to press the “buy” button by supportive news arriving from the banks’ annual shareholder meetings and first-quarter earnings reports. The front view of the Ha Noi Stock Exchange. Listed banks could lift the two exchanges this week after reporting better earnings for the first quarter of the year. - VNS photo Doan Tung The benchmark VN Index recorded its strongest daily growth since March 6, rising 2.30 per cent, or 25.23 points, to end Friday at 1,119.86 points. But its previous dive on Thursday still left the VN Index down 3.2 per cent week on week. The HNX Index on the Ha Noi Stock Exchange increased by 1.16 per cent to close at 132.58 points. Like the benchmark index, the HNX Index finished lower from the previous week by falling total of 0.5 per cent after five trading days. An average of 241.2 million shares were traded in each session of the last … [Read more...] about Bank earnings to boost shares

US Treasury Secretary Steven Mnuchin said changes in lending policies at the World Bank will free up more resources for poorer countries. (Photo: AFP/Brendan Smialowski) World Bank President Jim Yong Kim said neither China nor any middle income countries was happy about the prospect of paying more for loans, but they agreed because of the overall increase in funds available. The agreement, which also increase shares and voting power to large emerging market countries like China, was "a tremendous vote of confidence" in the institution that came after three years of tough negotiations, Kim said. "World Bank Group bureaucrats don't often jump around and high-five and hug each other," Kim told a small group of reporters following the Spring meeting. He said the increase was needed because even with the end of the global financial crisis, the bank has been called on to provide funding to address a new series of challenges facing poor countries, like climate change, refugees, pandemics, … [Read more...] about World Bank shareholders approve US$13 billion capital increase

More efforts should be made to boost administrative reform in the banking system to further facilitate access to credit for micro, small and medium enterprises. Micro, small and medium enterprises businesses are defined as the engines of growth and innovation in the APEC region, alongside the two important areas of agriculture and innovative startups. - Photo ipsard.gov.vn This was the consensus at the conference titled “Reforming administrative procedures – improving credit access” held on Wednesday by the State Bank of Viet Nam and the Chamber of Commerce and Industry (VCCI). According to VCCI data, 97 per cent of the 500,000 enterprises operating in Viet Nam are small and medium sized (SMEs). Of these, 85-90 per cent are micro and small companies. Bank capital has contributed significantly to the development of the private economic sector, especially the SMEs. This was demonstrated in the rapid improvements of both the overall business environment and the … [Read more...] about Reforms should ease credit access

Vietnamese shares rebounded on Friday morning as investors began bargain hunting, but the growth seemed unsustainable towards the afternoon session. The market trading condition was balanced, with 201 gaining stocks, 198 decliners and 110 stocks ending flat. - Photo thanhnien.com.vn The benchmark VN Index on HCM Stock Exchange was up 0.48 per cent to close at 1,099.91 points. It had fallen by 5.1 per cent in the previous two sessions and dropped as much as 1.51 per cent in the morning session. The HNX Index on Ha Noi Stock Exchange rose 0.43 per cent to end at 131.61 points, recovering from a two-day decline of nearly 2.4 per cent. The market trading condition was balanced, with 201 gaining stocks, 198 decliners and 110 stocks ending flat. More than 162.6 million shares, worth VND6.64 trillion (US$295.2 million), were traded on the two local exchanges. Strong bargain hunting for stocks by investors, which had fallen sharply in the previous two sessions, helped pick up shares … [Read more...] about VN stocks recover on strong bargain hunting

British regulators are to fine Barclays chief executive Jes Staley an undisclosed amount after he breached rules by trying to uncover a whistleblower, the bank said Friday. UK to fine Barclays CEO over whistleblower incident, Photo: AFP PHOTO / CARL COURT Following a year-long investigation, the Financial Conduct Authority and the Bank of England's Prudential Regulation Authority each have proposed that Staley pays "a financial penalty", Barclays said in a statement. According to Barclays, "the FCA and PRA are not alleging that he acted with a lack of integrity or that he lacks fitness and propriety to continue to perform his role as group chief executive". But regulators added that Staley had breached an individual conduct rule requiring him "to act with due skill, care and diligence". Barclays meanwhile noted that it would face no separate fine over the matter that took place in 2016. In April 2017, Barclays revealed that US national Staley was being probed by regulators … [Read more...] about UK to fine Barclays CEO over whistleblower incident